f) Provisions, Contingent Liabilities and Contingent Assets and Commitments

i) Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it
is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. Such provisions are determined based on management estimate of
the amount required to settle the obligation at the balance sheet date. When the Company expects some or all of a provision
to be reimbursed, the reimbursement is recognised as a standalone asset only when the reimbursement is virtually certain.

ii) If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognised as a finance cost.

iii) Contingent liabilities are disclosed on the basis of judgment of management. These are reviewed at each balance sheet date
are adjusted to reflect the current management estimate.

iv) Contingent assets are not recognized but are disclosed in the financial statements when inflow of economic benefits is
probable.

g) Income Taxes

The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit and Loss, except
to the extent that it relates to items recognised in the other comprehensive income or in equity. In which case, the tax is
also recognised in other comprehensive income or equity.

i) Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation
authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance sheet date.

ii) Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial
statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability
is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end
of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each reporting
period.

h) Employee Benefits Expense
Short Term Employee Benefits

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by employees
are recognised as an expense during the period when the employees render the services.

Post-Employment Benefits
Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions to a separate
entity. The Company makes specified monthly contributions towards Provident Fund, Superannuation Fund and Pension Scheme.

The Company's contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the
employee renders the related service.

i) Revenue recognition

Revenue from sale of goods is recognised when the significant risks and rewards of ownership have been transferred to
the buyer, recovery of the consideration is probable, the associated cost can be estimated reliably, there is no continuing
effective control or managerial involvement with the goods, and the amount of revenue can be measured reliably.
Revenue from rendering of services is recognised when the performance of agreed contractual task has been completed.
Revenue from sale of goods is measured at the fair value of the consideration received or receivable, taking into account contractually
defined terms of payment and excluding taxes or duties collected on behalf of the government such as Goods and Service Tax(GST)
Revenue from operations includes sale of goods, services, service tax, excise duty and adjusted for discounts (net), and gain/
loss on corresponding hedge contracts. '

Interest income

Interest income from a financial asset is recognised using effective interest rate (EIR) method.

Dividends

Revenue is recognised when the Company's right to receive the payment has been established, which is generally when shareholders
approve the dividend.

j) Financial Intruments
i) Financial Assets

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly attributable
to the acquisition or issue of financial assets and financial liabilities, which are not at fair value through profit or
loss, are adjusted to the fair value on initial recognition. Purchase and sale of financial assets are recognised using
trade date accounting.

B. Subsequent measurement

Financial assets carried at amortised cost

A financial asset is measured at amortised cost if it is held within a business model whose objective is to hold the
asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified
dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.

Financial assets at fair value through profit or loss (FVTPL)

A financial asset not classified as either amortised cost or FVOCI, is classified as FVTPL.

C. Investment in subsidiaries, Associates and Joint Ventures

The Company has elected to measure investment in subsidiaries, Associates and Joint Ventures at its carrying cost.

D. Other Equity Investments

All other equity investments are measured at fair value, with value changes recognised in Statement of Profit and
Loss, except for those equity investments for which the Company has elected to present the value changes in Other
Comprehensive Income'.

E. Impairment of financial assets

In accordance with Ind AS 109, the Company uses Expected Credit Loss' (ECL) model, for evaluating impairment
of financial assets other than those measured at fair value through profit and loss (FVTPL).

Expected credit losses are measured through a loss allowance at an amount equal to:

Ý The 12-months expected credit losses (expected credit losses that result from those default events on the
financial instrument that are possible within 12 months after the reporting date); or

Ý Full lifetime expected credit losses (expected credit losses that result from all possible default events over
the life of the financial instrument) For trade receivables Company applies simplified approach' which
requires expected lifetime losses to be recognised from initial recognition of the receivables. The Company uses
historical default rates to determine impairment loss on the portfolio of trade receivables. At every reporting
date these historical default rates are reviewed and changes in the forward looking estimates are analysed.

For other assets, the Company uses 12 month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.'
ii) Financial Liabilities

A. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of
recurring nature are directly recognised in the Statement of Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other payables
maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short
maturity of these instruments.

C Derecognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset
expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial
liability (or a part of a financial liability) is derecognized from the Company's Balance Sheet when the obligation
specified in the contract is discharged or cancelled or expires.

K) Operating Cycle

"The Company presents assets and liabilities in the balance sheet based on current / non-current classification based on
operating cycle. An asset is treated as current when it is:

a. Expected to be realized or intended to be sold or consumed in normal operating cycle;

b. Held primarily for the purpose of trading;

c. Expected to be realized within twelve months after the reporting period, or

d. Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after

the reporting period All other assets are classified as non-current.'

A liability is current when:

a. It is expected to be settled in normal operating cycle;

b. It is held primarily for the purpose of trading;

c. It is due to be settled within twelve months after the reporting period, or

d. There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

All other liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities The company has identified twelve
months as its operating cycle.'

l) Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders
by weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period are adjusted for events of bonus issue; bonus element in a right issue to existing shareholders.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and
the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity
shares.

m) Dividend Distribution

Dividend distribution to the shareholders is recognised as a liability in the company's financial statements in the period in which
the dividends are approved by the company's shareholders.

n) Statement of Cash Flows

i) Cash and Cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, other short-term,
highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of
cash and which are subject to an insignificant risk of changes in value.

ii) Statement of Cash Flows is prepared in accordance with the Indirect Method prescribed in the relevant Ind AS.

2.3 CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements in conformity with the Ind AS requires management to make judgments, estimates and
assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities and disclosures as at

date of the financial statements and the reported amounts of the revenues and expenses for the years presented. The estimates and
associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may
differ from these estimates under different assumptions and conditions. The estimates and underlying assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision
affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

a) Depreciation / amortisation and useful lives of property plant and equipment / intangible assets

Property, plant and equipment / intangible assets are depreciated / amortised over their estimated useful lives, after taking
into account estimated residual value. Management reviews the estimated useful lives and residual values of the assets
annually in order to determine the amount of depreciation / amortisation to be recorded during any reporting period. The
useful lives and residual values are based on the Company's historical experience with similar assets and take into account
anticipated technological changes. The depreciation / amortisation for future periods is revised if there are significant
changes from previous estimates.

b) Recoverability of trade receivable

Judgements are required in assessing the recoverability of overdue trade receivables and determining whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing
of anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

c) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds
resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition
and quantification of the liability requires the application of judgment to existing facts and circumstances, which can be
subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of
changing facts and circumstances.

d) Impairment of non-financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication
exists, the Company estimates the asset's recoverable amount. An asset's recoverable amount is the higher of an asset's
or Cash Generating Units (CGU's) fair value less costs of disposal and its value in use. It is determined for an individual
asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or a groups of
assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and
is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs of disposal, recent market transactions are taken into account, if no such transactions can be identified, an
appropriate valuation model is used.

e) Impairment of financial assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected cash loss rates.
The Company uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based on
Company's past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

3. Recent accounting pronouncements

There are no recent pronouncements applicable for financial year 2024-25.

Brief Description of items of Other Equity

(a) Securities Premium :

Securities Premium reserve is used to record the premium on issue of shares. The reserve is utilized in accordance with the
provision of the act.

(b) Retained Earnings :

Amount of retained earnings represents accumulated profit and losses of the Company as on reporting date. Such profits and losses
are after adjustment of payment of dividend, transfer to any reserves as statutorily required and adjustment for realised gain/loss
on derecognition of equity instruments measured at FVTOCI.

(c ) Financial Instruments through other Comprehensive Income :

The Company has elected to recognize changes in the fair value of certain investments in other comprehensive income. These
changes are accumulated within the FVTOCI equity investments reserve.

31 CAPITAL MANAGEMENT

The Company adheres to a robust Capital Management framework which is underpinned by the following guiding principles;

a) Maintain financial strength to attain AAA ratings domestically and investment grade ratings internationally.

b) Ensure financial flexibility and diversify sources of financing and their maturities to minimize liquidity risk while meeting
investment requirements.

c) Proactively manage group exposure in forex, interest and commodities to mitigate risk to earnings.

d) Leverage optimally in order to maximize shareholder returns while maintaining strength and flexibility of the Balance sheet.
This framework is adjusted based on underlying macro-economic factors affecting business environment, financial market

conditions and interest rates environment.

The company has not taken any loans or entered into any any derivative contracts. Accordingly, there is no exposure to
interest rate changes at the end of the reporting period.

Commodity Price Risk

Commodity price risk arises due to fluctuation in prices of raw material. The company has a risk management framework
aimed at prudently managing the risk arising from the volatility in raw material prices and freight costs.

The company's commodity risk is managed centrally through well-established trading operations and control processes. In
accordance with the risk management policy, the Company carefully caliberates the timing and the quantity of purchase
Credit Risk

Credit risk is the risk that a customer or counterparty to a financial instrument fails to perform or pay the amounts due
causing financial loss to the company. Credit risk arises mainly from the outstanding receivables from customers.

The company has a prudent and conservative process for managing its credit risk arising in the course of its business
activities. The credit ratings/market standing of the customers are evaluated on a regular basis.

Liquidity Risk

Liquidity risk arises from the Company's inability to meet its cash flow commitments on time. Prudent liquidity risk
management implies maintaining sufficient stock of cash and marketable securities . The Company maintains adequate cash
and cash equivalents alongwith the need based credit limits to meet the liquidity needs.

33 Operating Leases

(a) the total of future minimum lease payments under non-cancellable operating leases for each of the following periods:

(i) not later than one year; 0.90 0.90

(ii) later than one year and not later than five years; NIL NIL

(iii) later than five years. NIL NIL

(b) the total of future minimum sublease payments expected to be received

under non-cancellable subleases at the end of the reporting period. NIL NIL

(c) lease and sublease payments recognised as an expense in the period, with separate

amounts for minimum lease payments, contingent rents, and sublease payments. 0.90 0.90

(d) The Company pays rent for office premises at 1st Floor,Swadeshi Market 316 Kalbadevi Road, Mumbai (MH) 400002, and

facility fees paid for office preemises at 2, Shivaji Nagar, Indore 452001

34 Employee Benefit:

The number of employee in the company are below the minimum level, hence there is no obligation of Gratuity, Provided
Fund, ESIC, Leave Encasement etc. Hence no disclosure in this regard has been given

35 Corporate Social Responsibility:

The Company does not fufill the criteris specified in the Companies Act 2013, hence the company is not liable for spending
any amount under Corporate Social Responsibility

36 DETAILS OF LOANS GIVEN, INVESTMENTS MADE AND GUARANTEE GIVEN COVERED U/S
186(4) OF THE COMPANIES ACT,2013.

The company has not given any Corporate Guarantees /Loans given by the company in respect of loans as at 31st March,
2024 and 31st March, 2023

37 SEGMENT REPORTING

Identification of Segments
Primary Segments

The Company has identified during the year two reportable segments i.e. Trading of goods and carrying Investments and Trading
of Shares and Advances. The Primary Segment information is as under:

c) Trade payable Turover ratio : Raw material purchase is 188.56 for 2023-24 & other Expenses is 8.57 totalling thus 197.13
How ever raw material purchase for 2022-23 is 213.85 & other expenses 10.65 totalling thus 250.25 thus increase

d) Net Capital Turnover Ratio - Due to Decrease in current assests, the ratio Degrade

e) Return of Sales - Due to Decrease in Profit the ratio is Degrade

f) Return on capital Employed : ( EBIDT / E.Capital Reserves & Surplus Lease liability) Ratio is 2023-24 is 0.01 and for
the year 2022-23 is 0.16 ( % variation is -984.05)EBIDT as on 31/3/2024 is Rs. 19.67 wheras in 31/3/2023 is Rs.210.93

g) Return on Investment : Since the compnay is suspended from 18/1/2021 Hence ratio is not calculated for the same

42 OTHER REGULATORY DISCLOSURES

42.1 No proceedings have been initiated or pending against the company for holding any benami property under the Benami
Transactions (Prohibitions) Act, 1988 (45 of 1988) and the Rules made thereunder

42.2 The Company has not been declared willful defaulter by any bank or financial institution or other lender.

42.3 The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or
section 560 of the Companies Act, 1956

42.4 The Company has complied the number of layers prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017

42.5 No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the current as well as the previous year.

42.6 The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other source
or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding
(whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii)
provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries,

42.7 The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the company shall: (i) directly or indirectly lend
or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

42.8 The Company does not have any transaction not recorded in the books of accounts that has been surrendered or disclosed
as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other
relevant provisions of the Income Tax Act, 1961)

42.9 The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year as well as in the
previous financial year.

42.10 The Company has not made any contribution to any political party during the current financial year as well as in the
previous financial year.

42.11 The Company has got registeration of all the charges and satisfaction with Registrar of the Companies.

43 In the opinion of the Board of Directors of the Company, the Current Assets, Loans and Advances have
a value realizable in the ordinary course of business at least equal to the amount at which they are stated
and provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

44 In the opinion of the Board, all assets other than Property, Plant and Equipment, intangible assets and
non-current investments have a value on realization in the ordinary course of business at least equal to the
amount at which they are stated.

45 The Company has not taken borrowings from banks or financial institutions on the basis of security of
current assets.

46 APPROVAL OF FINANCIAL STATEMENTS

The financial statements were approved for issue by the board of directors on 28th Day of May 2024

This is the notes annexed referred to in our report of even date.

For M/s M. Mehta & Company For and on Behalf of the Board of Directors

Chartered Accountants
Firm Reg. No. 000957C

CA. Nitin Bandi Nitin Maheshwari Praveen Jain

Partner Managing Director Director

M .No. 400394 DIN:08198576 DIN:05358447

Place: Indore Rishabh Kumar Jain Neha Dubey

Dated: 28th Day of May 2024 Chief Financial Officer Co. Secretary